Takeda Ireland bright future ahead

While the news headlines relating to Takeda appear to be negative the underlying facts suggest otherwise. Profits to March 2017 were €5.2 million, down from €102 million a year earlier (€96.8 million reduction).

This decline was principally made up of two factors:
– Expenses of €25.2 million related to the drug Vocinti which was cancelled during clinical trials
– A significant increase in administration expenses linked to intra-company transactions. Such costs jumped from €151 million to €247 million last year (€97 million increase in costs).

A drug cancellation during clinical trials and changes in intra-company accounting actually hide a very positive picture for Takeda in Ireland which include:
– An increase in sales of products produced in Ireland from €357.5 million to €384.9 million (7.6% increase)
– The continued advancement of the GCP2 new production facility project for NINLARO in Grangecastle. The new production facility is of strategic importance to Takeda and will be unique in that it will house the Drug Substance, Drug Product, Primary and Secondary Packaging and QC processes all under one roof.
– An increase in R&D staff spend in the Irish operations to €3.98 million